First published in 1923, Reminiscences of a Stock Operator is the
fictionalized biography of Jesse Livermore, one of the greatest
speculators who ever lived. Now, more than 80 years later, it remains
the most widely read, highly recommended investment book ever written.
Generations of investors
have found that it has more to teach them about themselves and other
investors than years of experience in the market. They have also
discovered that its trading advice and keen analyses of market price
movements ring as true today as in 1923.
Jesse Livermore won and lost tens of millions of dollars playing the
stock and commodities markets during the early 1900s. So potent a market
force was he in his day that, in 1929, he was widely believed to be the
man responsible for causing the Crash.
Originally reviewed in The New York Times as a nonfiction book,
Reminiscences of a Stock Operator vividly recounts Livermore's mastery
of the markets from the age of 14. Always good at figures, he learns,
early on, that he can predict which way the numbers will go. Starting
out with an investment of five dollars, he amasses a fortune by his
early twenties and establishes himself as a major player on the Street.
Bullish in bear markets, and bearish among bulls, he claims that only
suckers gamble on the market. The trick, he advises, is to protect
yourself by balancing your investments, and selling big on the way down.
Livermore goes broke three times, but he comes back each time feeling
richer for the learning experience.
Offering profound insights into the motivations, attitudes, and feelings
shared by every investor, Reminiscences of a Stock Operator is a
timeless instructional tale that will enrich the lives - and the
portfolios - of today's traders as it has those of generations past.
